Business
Rogue Update: Landscape Stone Sales continue through April and May, Extends Debt Facility
NOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA OR TO US WIRE SERVICES In Februa...
About this update from Clean Energy Transition Inc.
[{"type":"text","content":"Rogue Update: Landscape Stone Sales continue through April and May, Extends Debt FacilityNOT FOR DISSEMINATION IN THE UNITED STATES OF AMERICA OR TO US WIRE SERVICESIn February-March Rogue Stone sold 4,490 tons realizing an average price of $86/tonAverage value of limestone sold continues to rise with increased demand for higher value productsExtended the term on the existing $1.8M debt financing to December 3, 2021TORONTO, ON / ACCESSWIRE / June 7, 2021 / Rogue Resources Inc. (TSXV:RRS) (\"Rogue\" or the \"Company\") is pleased to announce that Quarry Operations for Rogue Stone continued through the spring and early summer with growing demand for Rogue's limestone products. During the months of April and May, the Company sold a total of 4,490 tons of limestone for gross revenue of $387,296 and are in line with the sales expectations. Rogue Stone has also seen an increase in the value of the limestone sold as the demand for the higher value limestone products, including steps, wall stone and flagstone, begins to pick up with the arrival of the warmer weather.PeriodTonsAverage Realized Revenue per ton soldAverage Cost of Goods (\"COGS\") per ton soldQ3-2021 (Nov 2020 - Jan 2021)6,914$70$37February - March3,313$74Feb- April to be announced with Q4-2021 resultsApril - May4,490$86\"We are pleased to see that the demand and sales of limestone continue to meet or exceed expectations.\", said Mr. Samson. \"We anticipate that our sales volume will continue to increase through the summer.\"Debt Financing- extending current facilityRogue has elected to extend its $1.8M debt financing (the \"Debt Facility\") with a leading Canadian, non-bank lender (the \"Credit Group\"). The Debt Facility is secured against all of the Company's assets and will be extended for 6 months. The financing originally had a 12-month term, to which 3 months were added almost immediately when the Company negotiated relief around the early impact of COVID-19 (for further detail see the March 5, 2020 and April 27, 2020 news releases). The Debt Facility has interest-only payments until the principal is due in full at maturity, carrying an interest rate equal to the higher of prime plus 8.05% or 12%. There were no penalties or further fees related to the extension.\"Though expensive, the Debt Facility has financed the acquisition and growth of the Rogue Stone business ...